whyme2Thanks for the link - best of 2009Excellent article -...

whyme2

Thanks for the link - best of 2009

Excellent article - rather long, but compelling reading.

Interested to here from the Elliot wave followers about the
following:
"McHUGH: From a time perspective, Grand Super Cycle wave 4, to correct something that started in 1718, you would think this thing would last for 20, 30 or 40 years. So, time wise from proportionality, that's what you would estimate. However, the price damage that is happening is so rapid and so powerful and so fast that, a Grand Super Cycle wave four could correct three centuries of bull markets in a very short relative period of time, something on the order of two to six years, let's say. Our hope is that it is over in two years, but that will happen only if the degree of labels that I have marked in our analysis is correct, the highest levels. In other words, I have the decline from last October to this November's low as a Super Cycle degree decline because it was a 50% drop. If I am wrong and that is only a Cycle degree drop instead of a Super Cycle degree drop, that means that Cycle wave (A) down, the first leg of this Bear Market, isn't even over yet. Any correction of the Grand Super Cycle is going to be three waves, most likely. (A) down, (B) up, (C ) down, of the Super Cycle highest degree. If I am wrong, and these labels are too high, then this thing is going to last for six years and we could be seeing stock markets plummet further, the DJIA could go down to 1,000 or 500 and the S&P500 down to a similar level, to 50."

http://www.321gold.com/editorials/taylor/taylor121808.html